A Cash advance loan is a small, short term loan that is secured against a future paycheck. Whether you need cash for an emergency situation, such as an automobile breakdown or need cash to pay your monthly bills, a cash advance loan can be a convenient option.
Consumers use unsecured personal loans to manage unexpected situations or to pay rent, utilities, household expenses, vacation bills, home repairs, child care or medical expenses. The fact is, most households live paycheck to paycheck and cannot manage unplanned situations that require cash.
Unsecured personal loans are a good option for most people, because lenders do not require the applicant to pledge an asset, in order to secure a loan. An example, of an asset can be a car, a home or any other value property that the applicant may own. Since unsecured loans do not require you to own major assets, most people can qualify for a loan, as long as they have a steady source of income or employment.
How Can I Get A $1,000 Loan?
Most cash advance lenders provide loans of $100 to $500, however some specialized lenders provide loans up to $1,000, if you qualify. In order to borrow $1,000, the applicant must ensure that they make at least $1,000 after all paycheck deductions. Deductions may include retirement, medical, child care, child support, etc. The lender must be able to verify that you can repay your loan, without hardship after deductions and other financial obligations.
The first step in getting a loan, is finding a reputable lender. You can use your neighborhood cash lender or an online cash store. Most people prefer online lenders because you can apply for a loan in minutes and enjoy the convenience of instant approval, with cash wired to your bank account in a few hours.
Once you find a lender, you can apply for a loan, securely online. The lender will verify your employment status and income. Applicants must be at least 18 years or older, to qualify for a loan. Banks do not offer loans to minors, under 18 years of age. In addition, some lenders require applicants to be citizens of the United States.
What If I Have Bad Credit?
Consumers can qualify for a cash advance, even if, they have poor credit, a history of bankruptcy or foreclosure. Disclosing this information on your application, does not disqualify you from getting a loan. Most people will indeed qualify for a loan, if they have steady employment.
How Soon Can I Get My Money?
If you have a checking or savings account, the lender can wire cash to your account, usually within a few hours. Some lenders may take up to 24 hours, depending on how long it takes to verify your loan application and approve your loan request. It is important to complete your loan application, as thoroughly and as truthfully as possible, so that your information can be verified easily.
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